Do you think there is any place for paywalled/exclusive content in a Nostr world? Or even a subscription model?

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Only makes sense to paywall access to people or services, not content.

The creation of the content requires energy, so that's where you can demand payment. Once it's been created, it can be copied.

Music business figured this out, a while back. That's why musicians are all on tour, nowadays.

Essentially once something is digitised it becomes abundant and ultimately free. The tour on the other hand is a unique experience each time.

That's an interesting way of putting it, I need to do some more thinking on this topic.